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Title In Vitro Fertilization Market Business Strategy and Potential of Industry 2027
Category Fitness Health --> Health Insurance
Meta Keywords In Vitro Fertilization Market
Owner vinit

Primary Boosters and Deterrents

The in vitro diagnostics industry is also gaining momentum on the back of surging use of fully automated instruments across several diagnostic laboratories. Compared to the traditional semi-automated tools and instruments, automated instruments are exhibit significant performance levels, are far more scalable, reduce the hands-on period of the technologists, deliver quicker results and also eliminate batch testing. In view of these advantages and the resultant increase in demand, firms are focused on designing automated instruments. Dearth in lab personnel along with the escalating test volumes that require more number of tests also drive the demand for laboratory automation in the global market.

Market Scope

Market Research Future (MRFR) asserts that the in-vitro diagnostics market can achieve a growth rate of 8.16% from 2020 to 2027. The market size should also surpass USD 102,500 Mn by the review period’s end.

Segmental Analysis

With respect to product services, the market caters to instruments, data management software and reagents kits. In the year 2017, the reagents and kits segment took the lead with the highest share in the global market and can continue to dominate with a growth rate of 9.34% over the review period.

Technology-wise, the key segments are clinical chemistry, immunoassay/ immunochemistry, microbiology, hematology and molecular diagnostics. Clinical chemistry segment owns over one-third of the total share in the global market, considering the increasing use of modern technologies in the clinical diagnostics field. The molecular diagnostics segment can however, project the fastest growth in the years ahead.

Major applications are non-infectious and infectious diseases. Since 2017, the infectious diseases segment has stayed at the top spot with the highest share of more than 60% in the global industry.

Top market end users are laboratories, academic institutes, and hospitals. Hospitals segment remains in the lead owing to the huge number of tests that are conducted in hospital settings.

Regional Status

The in-vitro diagnostics market’s geographical distribution comprises Europe, South America, the Middle East Africa (MEA), North America, along with Asia Pacific (APAC).

In 2017, North America and South America together formed a share of nearly 40% in the global market. The North American market, in particular, can expect to stay highly profitable throughout the evaluation period. Additionally, the Asia Pacific market is more than likely to attain the highest growth rate over the forecast timeframe.

The North American market has been gaining at a stunning rate, mainly due to the escalating cases of infectious and chronic diseases in the United States and the rapidly growing elderly population. The soaring preference for effective point-of-care testing as well as personalized medicine, presence of Affordable Care Act (ACA) and the rising use of automated instruments also strengthen the market position in the region. The expanding application scope of molecular diagnostics along with increasing range of condition-specific tests and markers with innovations in proteomics and genomics could create lucrative opportunities for the regional market. Surge in FDA approvals encourage players to focus more on new launches, which in turns, aids in market growth.

The Asia Pacific market can procure the fastest growth rate in the years to come, backed significantly by rapidly emerging economies like India and China. Improving healthcare infrastructure and the escalating number of people opting for early diagnosis in view of mounting awareness levels coupled with the growth in the prevalence of chronic ailments also benefit the APAC market.

Top Firms

Bio-Rad Laboratories Inc., Sysmex Corporation, bioMérieux S.A, DiaSorin S.p.A, Ortho Clinical Diagnostics, Abbott Laboratories, Siemens AG, Grifols S.A, Becton Dickinson and Company, Danaher Corporation, Hoffmann-La Roche AG, and Thermo Fisher Scientific, Qiagen N.V. are some of the top manufacturers of in-vitro diagnostics worldwide.

Latest News

February 2021

TMRW Life Sciences has introduced the world's first ever automated cryo specimen management solution for eggs and embryos that are part of vitro fertilization. The TMRW platforms latest software-based management of millions of eggs s well as embryos will facilitate a smoother IVF procedure. The solution renders an unprecedented degree of safety at each phase of managing embryos and eggs as it accurately identifies every sample using radio frequency identification tracking, and also continuously monitors via TMRW's HIPAA-compliant, data-encrypted software.